Visual Economy

Videos about how to invest, investing in gold and silver, and economics 101

Is There Really Gold in Fort Knox

Periodically, throughout history, whenever a fiat currency fails (as every fiat currency throughout history has), gold undergoes a revaluation to account for all the excess currenc
Bookmark and Share

User Comments


all gone it is a scam!!!

Interesting article.The gold stored at the Fort Knox is not called the "Gold
Reserve "any more. It is called "deep storage gold" the
implications of which are questionable. The point raised is if
it does not remain the U.S. Gold reserve anymore and if it is,
then why is the label changed.
Cash for Platinum

The more I have, the less there is ;)

Nothing there mt..Gone scam!!!! and they no it!!!!

HA. Great reply. I'll have to use that around WealthCycles the next time that topic comes up.

nicholas - wealthcycles administrator

I do not know. But if that's how the audit went down. Than in my opinion there is probably no Gold stored. Crazy that the government has the value of Gold at 42 dollars. All this information is so unethical. What has happened to the very people that we are supposed to believe in?

I believe that the recently submitted bill 1716 that requires any gold transactions above 100 grammes have their details and participants be declared is a prelude to to executive order 6102 being re-enacted, whereby Roosevelt confiscated gold in 1933.

So first they'll keep track of who has gold and how much, and then after a while they'll come for it. And good luck saying you don't have any, because they'll have the records that say otherwise.

So if you're thinking of acquiring gold, and if so make sure it's physical gold, then do it now.

J

(just my opinion).

The Federal Reserve owns US bonds, Treasuries for over 5 trillion dollars. If they the US government defaults, they own the gold. Maybe it is like this. They have the gold as collateral for the debt.

truthseeker
Norway

Pretty clever Idea GW Bush had. Nothing like Obama tax and spend liberal. Bush was watching out for the average American....

You complain about 'Obama tax and spend' and yet have no problem with bush waisting tax dollars protecting an empty vault and conning citizens.

classic conservative logic

As a capitalist, I hope Trump is as concerned with socialist capitalism as it currently is and is pro Free markets and ending the fed and freedom.

Ron Paul understands and speaks about these issues better. Just because Trump is famous and a billionaire doesn't mean he's pro Freedom....

Billionaire bankers are the reason we are in this mess in the first place...

Treasury and Fed have No Gold...just air...just like the currency they print...

and if you read other articles here...even during the so called "confiscation" very little gold was handed in...none...so keep it, hide it and don't let the govt get it!

None. As Michael states, Treasury gave notes to the Federal Reserve, so they own it.
Things brings me to one of my concerns as a gold holder. If the gov't needs more gold they will confiscate it from us citizens to replenish Fort Hood's vault. What is Michael's prediction on seeing what Roosevlet did in 1933? Will it happen again?
If Donald Trump runs for Prez in 12 (which I hope he does); he won't confiscate our gold--I beleive. I beleive he will allow us citizens that moved to precious metals to see our wealth transfer.

Anyone like to comment on my thoughts?

Peace.

Since everyone is smart and keeps their gold in foreign countries. So the only way the US government can replenish Fort Hood's vault is to confiscate all the silver. You never know.

If you check the records, no-one was every charged with owning gold after Roosevelt made it illegal. Give michaels article "gold-nationalization vs. confiscation". it goes into depth about how the Gov will not be able to pass a law like this today. (remember that in '33 we were not yet on the bretton woods system".

nice thought on trump! we can only hope.

PS, fun thought... the US GOV has the official gold price listed at $45/Oz, is this because they ARE planning to pass a confinscation law, one that says they will buy back all gold in circulation? lol, any comments on that would be much appreciated.

Hello Jackpine,

There was no confiscation. The gold was nationalized which made it illegal for U.S. citizens to hold/own gold in the U.S. Every citizen was forced to turn in their gold for the fair market value at that time which I believe was $22.50/oz. After the government was satisfied with the amount of gold in hand, gold was revalued at approx. $35/oz.

To confiscate means to take without giving anything in return and that did not happen.

If one is concerned about another gold nationalization, then maybe owning stocks in gold mining companies would be a worthy substitute. I read that investors holding those types of stocks did well when the price of gold was revalued in the 30's.

In conclusion: I side with Mike Maloney that it is highly unlikely for another nationalization of gold by the U.S. Gov. Most of the Federal Reserve Notes (FRN)in existence circulate outside of the U.S. and if it was announced for all U.S. Citizens to turn in their gold for FRN's then people all over the world would dump the FRN faster than Hussein Bolt! The FRN would dramatically become more worthless, over the course of a few days, than it already is.

Till next time,

TLJ

WealthCycles Commentary


Periodically, throughout history, whenever a fiat currency fails (as every fiat currency throughout history has), gold undergoes a revaluation to account for all the excess currency in circulation. If that were to happen today, the price of gold would go to at least $100,000 an ounce, and possibly as high as $200,000. That is, if there really is as much gold as there’s supposed to be in Fort Knox. But as this video blog with Michael Maloney and silver investment expert David Morgan reveals, that’s a mighty big if…

Over the past several years, gold market expert James Turk has written extensively about central bank interference and other irregularities in the gold market, including an article called Grist for the Mill which questions whether the Fort Knox gold is really there.

“A few little subtleties have come up,” David explains. “One of the subtleties that has come up was that President Bush was going to save money for the taxpayer and do away with the guarding of Fort Knox. Then he said, ‘Wait a minute, we can’t do that; there’s supposed to be some gold in there, right?’…

“There’s never been a real, physical audit since the ’50s, and it’s my understanding—and I have not read any notarized statement—but it’s my understanding that, even on that audit, a couple of high-powered politicians went in, they went into one area of the vault, and they brought out a couple of bars and put them into the senators’ hands. The senators said, ‘Yeah, that’s real gold,’ and probably it was. But that’s not an audit. That’s a dog-and-pony show.”

Michael points out another irregularity revealed in United States financial statements: The U.S. Treasury has loaned $11 billion worth of its gold to the Fed, secured against gold notes. In other words, the Fed has $11 billion worth of gold, and the Treasury holds $11 billion worth of paper gold notes, leaving something like $500 million worth of gold in the Treasury. And the Federal Reserve, by law, cannot be audited.

“I always had the thought that, if it ever came to the general public understanding that there is no gold in Fort Knox, or that the gold that’s there isn’t owned by the U.S., it’s owned by the Fed, that would be a trigger point,” David continues.

And that, Michael agrees, is the purpose of WealthCycles.com and the video blogs—to make the truth available to the public, via the powerful tool of Internet.

What do you think? How much, if any, gold is left in Fort Knox?